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Accounting News 10/2011



Company Registration Specialist Offers the Solution to Beat the Accounting Talent Crunch
“Outsourcing accounting tasks to specialists is part of the solution to counter the challenge of talent crunch for accounting and finance professionals. This will bring multiple benefits by reducing the burden on resources, being managed by experts in the area it will meet the highest standards and relieve the management to focus on core tasks at hand” says Mr. Satish Bakhda of http://www ...

Judgment in accounting for joint arrangements
(Conclusion) In last week’s article, we introduced the recently issued accounting standard, Joint Arrangements (International Financial Reporting Standards, or IFRS 11), which takes effect for annual periods beginning on or after Jan. 1, 2013.

Pacific Crest Group Acquires Compass Accounting Group
Acquisition of San Francisco Accounting Firm Expands Pacific Crest Group’s Reach into Bay Area Restaurant MarketLarkspur, Calif. (PRWEB) October 03, 2011 Pacific Crest Group (http://www.pcg-services.com), the Bay Area service firm that optimizes finance, human resources, and IT so their clients can focus on building their business, has announced the acquisition of Compass Accounting of San ...

Interview With The Chief Accounting Officer And CEO: National Health Investors, Inc. (NHI) - J. Justin Hutchens & ...
67 WALL STREET, New York - October 3, 2011 - The Wall Street Transcript has just published its Medical Real Estate Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling (212 ...

Sage Discontinues Simply Accounting VAR Program
After two years of trying to establish a reseller network for Sage Simply Accounting, Sage North America discontinued support of the program effective Oct. 1, with support for existing solution providers extending until Sept. 30, 2012.

Accounting firm disputes claims about St. Louis police election
The firm denies claims from the Police Officers' Association that the election was flawed.

Financial Accounting Foundation Seeks Comments on Plan to Improve Standard Setting for Private Companies
A new council with the authority to identify, propose and vote on specific improvements to US accounting standards for private companies is the centerpiece of a new private company plan released today for public comment by the Board of Trustees of the Financial Accounting Foundation .

A Proposal for New Accounting Standard-Setter for Private Companies
A new body would be able to modify or allow exceptions to Generally Accepted Accounting Principles, known as GAAP, for nonpublic companies.

A Proposal for New Accounting Standard-Setter for Private Companies
A new body would be able to modify or allow exceptions to Generally Accepted Accounting Principles, known as GAAP, for nonpublic companies.

Accounting firm Perry-Smith sold
A top Sacramento accounting firm, Perry-Smith LLP, said Monday it's being taken over by a much larger firm from Chicago.

Accounting Foundation Proposes New Standards Authority
The Norwalk-based Financial Accounting Foundation is proposing the formation of a new council with the authority to identify, propose and vote on specific improvements to United States accounting standards for private companies.

Lean Accounting Award from the Lean Enterprise Institute Goes to an Accounting Professor and 2 Ph.D. Candidates
An accounting professor and two doctoral candidates received 2011 Excellence in Lean Accounting Awards, sponsored by the nonprofit Lean Enterprise Institute at the seventh annual Lean Accounting Summit.

Lean Accounting Workshop from the Lean Enterprise Institute Resolves Conflicts Between Lean Management and Traditional ...
The nonprofit Lean Enterprise Institute will present the workshop Lean Accounting to help financial and operations managers and executives implement the necessary accounting changes to support lean management.

Global accounting rule setter courts U.S. support
BOSTON, Oct 5 (Reuters) - The United States would still playa pivotal role in shaping global accounting rules if it switchesto standards set by the international accounting body based inLondon, a top rule-maker ...

Accounting Companies Merge; Now State’s Biggest
Long Beach-based Windes & McClaughry accounting and consulting firm announced this month that it is merging with San Francisco-based Burr Pilger Mayer, Inc.

Accounting firms will continue hiring despite downturn fears
Accounting graduates have reason for optimism despite the gathering economic storm clouds. It may not be boom time for most job-seekers but leading accounting employers say they will keep graduate hiring figures constant for the upcoming year.

Mouchel chief Richard Cuthbert resigns as accounting error hits profits
Mouchel chief executive Richard Cuthbert resigned on Thursday as the company revealed a £4.3m accounting error, creating a double blow for the UK services company that saw shares tumble more than 50pc....

Accounting, Auditing and Accountability Journal - AccountingEducation.com Members Offer
Abstract Purpose – The purpose of this paper is to examine the work-related attitudes (job satisfaction, job stress and the propensity to remain) of Australian academics and their association with organisational, institutional and demographic factors.

Who says accounting is for dullards?
Accounting servics provider WHK Group is giving investors quite a ride.

Who says accounting is for dullards?
Accounting servics provider WHK Group is giving investors quite a ride.

Accounting for Service: How to Make Financial Roles Fantastic | By Roberta Nedry
Making service sense out of those that manage the dollars and cents of any hospitality business is a key but often overlooked part of any service culture. Hospitality leaders may go out of their way to pay the bills, secure revenue, finance investments and get reimbursements but they need to ensure that the accounting department reimburses service too.

SME cash accounting ‘a good idea’
CASH ACCOUNTING for SMEs has been championed by business network the Institute of Directors , which says the system more closely reflects non-accountants' understanding of profit.

Odd accounting behind Postal Service woes
Politicians have been raiding Postal Service revenues for years, using them to make the federal deficit appear smaller than it really is. Welcome to the wacky world of D.C. accounting.

Current Insurance Accounting Proposals Are Fatally Flawed and Unworkable, Says GNAIE
BOSTON, Oct. 7, 2011 /PRNewswire-USNewswire/ -- The current set of insurance accounting proposals now under consideration by international accounting standards setters are fatally flawed and unworkable, a representative of the North American insurance industry said this week. Speaking at...

Accounting firm hired to audit Hempfield recreation department
A forensic investigation uses accounting methods to determine whether there are any problems with an organization's finances. The findings can be used as evidence in court or litigation. A forensic audit also can rule out wrongdoing.

Accounting for recounting
THE journalism world has an old culture of referring to fellow journalists by their first names, regardless of title or rank, whether an editor-in-chief or a cub-reporter.

Accounting for recounting
The government's efforts in driving the "green" initiative as outlined in the 2012 Budget, will encourage market acceptance and further motivate Malaysians to own green vehicles, ...

Advantage Systems Improves Joint Venture Companies’ Management of Mortgage Subsidiaries
Advantage Systems, a provider of accounting and contract management tools for the mortgage and real estate industries, announced that Accounting for Mortgage Bankers can be leveraged to help parent companies better manage relationships with their mortgage divisions.

GASB Proposes Technical Corrections
The Governmental Accounting Standards Board today issued an Exposure Draft intended to improve accounting and financial reporting for governmental financial reporting entities by resolving conflicting guidance that resulted from the issuance of two recent pronouncements.

New Sage Simply Accounting 2012 Helps Improve Business Efficiency and Payroll Processes for Canadian Small Businesses
RICHMOND, BC-- - Sage North America announced today the release of Sage Simply Accounting 2012, an essential accounting tool for small to midsized businesses seeking to streamline their operations, improve their work flow and carry out more efficient accounting activities, from keeping track of their inventory to getting paid faster.

Rothstein Kass Continues Expansion of Litigation & Forensic Accounting Services Practice
Rothstein Kass , a leading professional services provider to the financial services industry, today announced the continued expansion of its Litigation & Forensic Accounting Services practice through the introduction of a full spectrum of Complex Data Analytics services.

Thrivent Asset Management Selects SunGard’s Asset Arena Investment Accounting
Thrivent Asset Management, a $30bn asset manager and subsidiary of Thrivent Financial for Lutherans, has selected SunGard’s Asset Arena Investment Accounting as its mutual fund accounting platform.Lombard, IL (PRWEB) October 11, 2011 Thrivent Asset Management, a $30bn asset manager and subsidiary of Thrivent Financial for Lutherans, has selected SunGard’s Asset Arena Investment Accounting as its ...

'Accounting Error' Could Have Cost Fort Smith $115,000
Fort Smith Finance Director Kara Bushkuhl recently caught a mistake that eventually saved the city of Fort Smith about $115,000 a year, and saved 300-plus Arkansas county and local governments more than $2.771 million.

Oversight board proposes plan to make accountants more accountable
When big accounting firms issue letters vouching for the financial statements of the companies they audit, the documents bear the signature of the accounting firm, as if a faceless entity picked up a pen and scribbled its endorsement. Now, a plan to make accountants more accountable would require audit firms to disclose the names of the partners who head each audit. Read full article >>

NY judge: Home confinement in Arthur Andersen case
A former managing partner at the Arthur Andersen accounting firm was ordered Tuesday to serve three months of home confinement after admitting he engaged in insider trading.

Sage Simply Accounting 2012 aims to simplify payroll functions
Sporting features to make payroll functions easier for its SMB users, Simply Accounting 2012 hit the shelves on Tuesday, the last version of the product line to be released by Sage Group Plc under the well-known branded title.

5 Satyam accounting fraud accused get bail
The former Satyam employees, who were granted bail, were its former internal chief auditor V S Prabhakar Gupta besides executives G Ramakrishna, D Venkatpathi Raju and Ch Srisailam. The fifth accused, who got the bail, is PWC's former auditor Subramani Gopalakrishnan.

Big pay hikes forecast in accounting, finance, IT next year
(Crain's) — Accounting, finance and IT salaries are picking up in Chicago and nationwide, according to a 2012 salary forecast by Robert Half International Inc., a staffing service company.

Evergrande Ordered to Pay Fine for Accounting Irregularities
Evergrande Real Estate Group Ltd., China’s second-biggest developer by sales, was fined for a unit’s filing of inaccurate financial statements and underpaying taxes in a case that highlights accounting weaknesses at the nation’s companies.

Mobile accounting firm acquires practice
Mobile-based accounting firm Wilkins Miller Hieronymus LLC has bought the Mobile office of Cherry Bekaert & Holland. Terms were not disclosed. The move adds two certified public accountants at Wilkins Miller, a firm created by the 2009 merger of Wilkins Miller P.C. and Hieronymus, Gaillard & Jones LLC.

AbitibiBowater Appoints Silvana Travaglini as VP and Chief Accounting Officer
Oct. 12, 2011 - AbitibiBowater has appointed Silvana Travaglini as vice president and chief accounting officer, effective November 15, 2011.

Emerging Markets Accounting For 15% - 20% Of Sales In The Industrial Equipment Portfolio Of FBR Capital Markets; Top ...
67 WALL STREET, New York - October 10, 2011 - The Wall Street Transcript has just published its Industrial Equipment Report offering a timely review of the sector to serious investors and industry executives. This special feature contains expert industry commentary through in-depth interviews with public company CEOs, Equity Analysts and Money Managers. The full issue is available by calling ...

iMoney Accounting
Keep track of your cash iOS App of the Week It must be a sign of the times, but I’m definitely seeing more personal finance apps coming my way recently.…

Serenata Flowers Implements Twinfield for 'Any Time, Anywhere' Accounting
CHELMSFORD, England Twinfield Online Accounting System Provides e-florist with 'Real-Time' Information on Cash-flow Management, Forecasting and Budgeting, Irrespective of Location Serenata Flowers, the online retailer of flowers, chocolates and wine, has implemented Twinfield's online accounting system to increase visibility of financial performance and impose far greater control over spend and ...

Burritt slams academic accounting
ACCOUNTING academic Roger Burritt has slammed his colleagues.

Is cash accounting a big BIS ruse?
CASH ACCOUNTING for micro-entities was the most radical in a raft of recent red-tape cutting proposals from the Department of Business, Innovation and Skills.

JP Morgan Pulls Accounting Rabbit Out Of Hat
JP Morgan beat earnings estimates but only by using a one-time only accounting trick, while Kodak bondholders line up to make sure they are paid.

New accounting norms will impact telecom firms' profits: TRAI
The Telecom Regulatory Authority of India on Thursday said that convergence of Indian accounting norms with global audit practice IFRS will have a bearing on the profits of telecom companies as they will be required to assign fair value to their assets.

JP Morgan Pulls Accounting Rabbit Out Of Hat
JP Morgan Pulls Accounting Rabbit Out Of Hat

Economix Blog: Accounting Oversight Board Proposes Making Companies Name Their Auditor
Why audit firms think there is no need to know who actually performs the audit.